Norway’s marine construction and operations player Ocean Installer, part of the Moreld Group, has extended its charter agreement with compatriot North Sea Shipping for an advanced multi-purpose offshore construction vessel .
Ocean Installer announced it had executed an 18-month option, extending the charter party for the 154-meter-long North Sea Giant to the end of Q1 2027, to meet contractual obligations and continued strong demand for offshore construction capacity.
The agreement with the ship owner North Sea Shipping covers an 18-month period from Q4 2025 and includes another existing option for one year. Furthermore, the parties agreed on a new 18-month option at the end of the charter party, extending to Q4 2029.
“The new agreement ensures continuity and support for ongoing operations, as well as future projects, enhancing Ocean Installer’s operational capabilities and flexibility across various regions,” said Kevin Murphy , Ocean Installer’s CEO. “North Sea Giant will be employed on secured work and new prospects in both the North Sea and international waters.”
The DP3 vessel is equipped with a hybrid battery system and has a fuel-efficient power and propulsion system. It has a large deck, 400Te active heave compensated crane and two work-class remotely operated vehicles (ROVs).
A 150te vertical lay spread (VLS) owned by Ocean Installer was mobilized on the vessel last year to allow for flexible pipe and umbilical lay operation in deeper waters.
“We are very pleased with the performance of the North Sea Giant and the ongoing co-operation with North Sea Shipping. The vessel has been continuously working since we took her on charter in early 2024. Numerous projects have been safely completed on a global basis and we have consistently received positive feedback from our clients,” Murphy added.
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